RIYADH, Aug 23 — Opec leader Saudi Arabia’s energy minister said yesterday that the oil cartel and its allies have the means to deal with market challenges — including by “cutting production”.
They had agreed to increases of almost 650,000 bpd in July and August, but the cartel has struggled to meet its quotas. “Volatility and thin liquidity send erroneous signals to markets at times when clarity is most needed,” said Prince Abdulaziz.
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